3 Weldon Corporation's fiscal year ends December 31. The following is a list of transactions involving receivables that occurred during 2021 Mar. 17 Accounts receivable of $3,02e were written off as uncollectible. The company uses the allowance nethod. 30 Loaned an officer of the company $33,000 and received a note requiring principal and interest at 8% to be paid on March 30, 2022 May 30 Discounted the $33,02e note at a local bank. The bank's discount rate is 9%. The note was discounted without recourse and the sale criteria are met. June 30 Sold merchandise to the Blankenship Company for $25,000. Terms of the sale are 2/10, n/38. Weldon uses the gross method to account for cash discounts. July 8 The Blankenship Company paid its account in full. Aug. 31 Sold stock in a nonpublic company with a book value of $6,308 and accepted a $8,208 noninterest-bearing note with a discount rate of 98. The $8,00 payment is due on February 28, 2022. The stock has no ready market value. Dec. 31 Weldon estimates that the allowance for uncollectible accounts should have a balance in it at year-end equal to 3% of the gross accounts receivable balance of $920,000. The allowance had a balance of $25,ce at the start of 2821. Required: 1& 2. Prepare journal entries for each of the above transactions and additional year-end adjusting entries indicated. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round Intermediate calculations and round your final answers to nearest whole dollar.) Answer is not complete. No Credit Date March 17, 2021 General Journal Allowance for uncollectible accounts Accounts receivable Debit 3,000 1 OO 3,000 2 March 30, 2021 Notes receivable Cash lol 33.000 33,000 3 May 30, 2021 Interest receivable 440 Interest revenue 440 4 May 30, 2021 32,967 473 Cash Loss on sale of nates receivable Interest receivable Nates receivable OOOO 440 33,000 5 June 30, 2021 Accounts receivable 25,000 Sales revenue 25,000 6 July 08, 2021 24,500 Cash Sales discounts Accounts receivable OOO 500 25,000 7 8,000 August 31, 2021 Notes receivable Investments Discount on notes receivable Gain on sale of investments OOOO 6,300 380 1,340 a 5,600 December 31, 202 Bad debt expense Accounts receivable 5,600 X 9 x December 31, 202 No joumal entry required No joumal entry required